Bitcoin (BTC) has struggled to break past the $35,500 resistance level and has dropped 3 per cent over the past 24 hours. Daily BTC trade volume has decreased in this rally indicating a drop in buyer interest.
Ethereum continues its relief rally, gains 3% today while successfully holding on to the $2,100-2,200 levels
Bitcoin (BTC) has struggled to break past the $35,500 resistance level and has dropped 3 per cent over the past 24 hours. Daily BTC trade volume has decreased in this rally indicating a drop in buyer interest.
Global crypto market cap is now at $1.42T, registering a modest 0.9 per cent drop today. The total crypto trade volume has reduced by 5 per cent compared to the previous day.
Meanwhile, Ethereum (ETH) continued its relief rally and has gained 3 per cent today while successfully holding on to the $2,100-2,200 levels. It must break the resistance level of $2,250 to explore possibilities of growth towards $2,600. If ETH drops below $2,000, a revisit to $1,700 level is possible.
Among the top cryptocurrencies, Solana (SOL) and Uniswap (UNI) are the only other coins to register growth. Dogecoin (DOGE) and Polkadot (DOT) have declined by more than 3 per cent in the last 24 hours.
Bitcoin needs to stay above the level of $32,400 to potentially challenge $36,000 resistance again. BTC breaking the $42,000 level is key to deliver strong growth in altcoins over the next month. If the pricing goes below $32,400, it may lead to a bigger BTC drop this week.
Top Gainers Today -
XinFin network (XDC): 14%
Maker (MKR): 13.2%
Compound (COMP): 12.9%
Top Losers Today –
Horizen (ZEN): -9.1%
Celo (CELO): -7.2%
Filecoin (FIL): -6.9%
Source: CoinMarketCap as of 9 am IST
Note: Analysis of top 100 coins only
Crypto News at a Glance:
Germany has allowed 4,000 investment funds managing close to $1.8 trillion to invest up to 20 per cent in Bitcoin starting today as the country granted Coinbase (NASDAQ listed crypto exchange) a license to operate custodial services.
Mexico's central bank has squashed Ricardo Salinas' (the country’s third-richest) plans to bring Bitcoin to his bank Banco Azteca.
New York Digital Investment Group (NYDIG) has partnered with payment leader NCR to enable Bitcoin services for 650 banks and credit unions in the US. NYDIG will also offer its in-house Bitcoin custody solution easing the regulatory impediment for community banks and financial institutions.
Deutsche Börse Group, a German stock exchange operator, has agreed to buy a majority stake in Crypto Finance AG for more than $100 million.
World's biggest interdealer broker, TP ICAP, is set to launch a crypto trading platform with Fidelity, Standard Chartered’s Zodia Custody and liquidity provider Flow Traders.
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